The decision came on an application moved by the company s Resolution Professional before the tribunal s Mumbai bench seeking to exclude a period of 29 days from the process, according to a regulatory filing. "NCLT on September 7, 2023, heard the application and granted the said exclusion of 29 days from CIRP of FRL. Consequently, the last date for completion of CIRP of FRL is September 15, 2023," it said.
It is not open to the liquidator to act on third-party communication and cancel the auction unless it is found that fraud or collusion has vitiated the process, the Court added.